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Judgment
Hemant Gupta, J.—The Petitioner has sought appointment of an Arbitrator in respect of the disputes arising out of an agreement dated 3.4.2008. Vide the said agreement, the Petitioner herein has taken first floor of the building situated in Sector 15, Chandigarh on rent for a period of three years. The Petitioner herein vacated the premises before the expiry of the lease period. One of the terms of the lease was refund of the security amount of Rs. 3,78,000/- along with interest @ 18% per annum from the day it becomes due till the date of its refund.
The entire dispute is in respect of refund of the security amount along with interest.
Learned Counsel for the Respondents states that the amount of security i.e. Rs. 3,78,000/- along with interest @ 18; p.a. in terms of the lease, shall be paid to the Petitioner within a period of one month.
In view of the said fact, there is no dispute which is required to be adjudicated by the Arbitrator. Hence, the present petition is disposed of. In case, there arises any other dispute out of the agreement, it shall be open to the Petitioner to approach this Court.